Wall Street brokerages expect ResMed Inc. (NYSE:RMD – Get Rating) to post $917.42 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for ResMed’s earnings. The highest sales estimate is $954.25 million and the lowest is $881.00 million. ResMed posted sales of $876.10 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that ResMed will report full-year sales of $3.58 billion for the current year, with estimates ranging from $3.54 billion to $3.62 billion. For the next year, analysts expect that the business will report sales of $3.94 billion, with estimates ranging from $3.86 billion to $4.00 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow ResMed.
ResMed (NYSE:RMD – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The medical equipment provider reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.12). The business had revenue of $864.50 million during the quarter, compared to analysts’ expectations of $900.03 million. ResMed had a net margin of 22.02% and a return on equity of 26.91%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the company earned $1.30 EPS.
Shares of RMD opened at $208.61 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.56 and a current ratio of 2.55. The company has a market capitalization of $30.52 billion, a price-to-earnings ratio of 39.29, a PEG ratio of 2.38 and a beta of 0.45. The company’s 50 day simple moving average is $215.24 and its 200 day simple moving average is $236.04. ResMed has a 1 year low of $189.40 and a 1 year high of $301.34.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Thursday, May 12th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Wednesday, May 11th. ResMed’s dividend payout ratio is currently 31.64%.
In related news, CEO Michael J. Farrell sold 5,675 shares of ResMed stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $242.37, for a total value of $1,375,449.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brett Sandercock sold 2,500 shares of ResMed stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $247.00, for a total transaction of $617,500.00. Following the completion of the sale, the chief financial officer now owns 106,354 shares in the company, valued at $26,269,438. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,615 shares of company stock valued at $8,831,103. 1.42% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in RMD. American Trust acquired a new position in shares of ResMed in the 1st quarter worth approximately $740,000. Bank of America Corp DE increased its position in shares of ResMed by 15.7% in the first quarter. Bank of America Corp DE now owns 237,529 shares of the medical equipment provider’s stock worth $57,603,000 after acquiring an additional 32,226 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of ResMed in the first quarter worth approximately $326,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of ResMed by 20.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,242 shares of the medical equipment provider’s stock worth $5,393,000 after acquiring an additional 3,768 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its position in shares of ResMed by 31.0% in the first quarter. Kestra Private Wealth Services LLC now owns 4,865 shares of the medical equipment provider’s stock worth $1,180,000 after acquiring an additional 1,150 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.
About ResMed (Get Rating)
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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